Winners of the startup competition held within the framework of the Islamic Development Bank Group Annual Meetings have been announced
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The "5th IsDB Group Startups & Innovation Pitch Competition 2026", organized within the framework of the 51st Annual Meetings of the Islamic Development Bank (IsDB) Group in Baku, has ended.
The Small and Medium Enterprises Development Agency (KOBİA) has published information about this.
The competition, organized under the theme "Strengthening Innovation, Artificial Intelligence, Finance, Trade and Entrepreneurship in IsDB Markets", brought together entrepreneurs, startups, investors and development partners from IsDB Group member countries.
On June 17, 12 startups that qualified for the finals presented their projects to international investors and experts at the Baku Congress Center. The presentations of the participants were evaluated by an international jury appointed by the Republic of Azerbaijan (KOBİA, 4SİM) and the IsDB.
Speaking at the event, Director of the Special and Trust Funds Department of the Islamic Development Bank Group, Special Advisor to the President of the ISDB, Muhammad Jamal At-Saati, Chairman of the Board of Directors of the Small and Medium Enterprises Development Agency (KOBİA) of the Republic of Azerbaijan Orkhan Mammadov, Co-founder of "Xona" company and partner of "iiValley.co" Riad Hartani, and Executive Director of the Center for Analysis and Coordination of the Fourth Industrial Revolution (4SİM) Fariz Jafarov shared their views on the startup ecosystem, the bank's support for startups, and tools to support startups in Azerbaijan.
On June 18, the winners of the "Islamic Development Bank Group's 5th Startups and Innovation Presentation Competition 2026" were announced. Thus, a total of 9 winners were identified and awarded in the competition, including 3 main and 6 special prize winners:
- First place winner ("Gold" award) - "BioSell" - 5,000 USD
- Second place winner ("Silver" award) - "Bayuti" - 4,000 USD
- Third place winner ("Bronze" award) - "Park Hub" - won a prize of 3,000 USD.
In addition, the following startups were awarded special prizes of 3,000 USD each:
- Artificial intelligence and digital innovation - "AIRT"
- Climate and sustainability - "Proedia"
- Financial inclusion - "Mink Platform"
- Women's entrepreneurship - "Climasel"
- Social impact - "Smart sagro"
- Regional integration - "Interconsea" (Derad Network).
It should be noted that the competition, which was held in partnership with KOBİA, received more than 220 applications from Azerbaijan. As a result of the selection process conducted through the IsDB's evaluation platform, 25 startups in 6 strategic innovation areas qualified for the next stage of the competition. At this stage, a three-day "Bootcamp" program was held at the "Baku KOB House" on June 14-16. Within the framework of the program, the selected startups participated in intensive training and mentoring sessions aimed at developing presentation skills, improving business models, effective communication with investors and increasing investment attraction opportunities. Experts and mentors with local and international experience in the field of innovation and entrepreneurship were involved in the program. The main goal of the competition is to support the development of innovative entrepreneurship, expand the opportunities for promising startups to cooperate with investors, promote their access to international markets, and contribute to the integration of Azerbaijan's innovation ecosystem into global cooperation platforms.
"5th Startups and Innovation Presentation Competition 2026 of the Islamic Development Bank Group" is an initiative aimed at identifying, supporting, and accelerating high-potential startups in member countries of the Islamic Development Bank Group. The competition provides entrepreneurs with technical support, capacity-building programs, access to investment networks, and opportunities for global visibility. At the same time, it promotes innovation as a key driver of sustainable development and economic growth.
Source of the news: https://oxu.az/iqtisadiyyat/iib-qrupuna-aid-startaplar-ucun-kecirilen-musabiqenin-qalibleri-aciqlandi-foto
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